HP Inc. (NYSE:HPQ) had its price target lifted by Royal Bank Of Canada from $22.00 to $26.00 in a note issued to investors on Wednesday, October 18th, MarketBeat reports. The firm presently has an “outperform” rating on the computer maker’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 20.82% from the stock’s previous close.
Several other analysts have also weighed in on HPQ. Morgan Stanley reissued an “overweight” rating and issued a $23.00 price objective on shares of HP in a report on Monday, June 26th. ValuEngine raised HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Mizuho raised HP from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $21.00 in a report on Monday, July 10th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, July 12th. Finally, Susquehanna Bancshares Inc began coverage on HP in a research report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 target price for the company. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. HP presently has a consensus rating of “Buy” and an average price target of $21.44.
Shares of HP (NYSE HPQ) opened at 21.52 on Wednesday. The stock has a market capitalization of $35.94 billion, a price-to-earnings ratio of 15.64 and a beta of 1.94. HP has a one year low of $13.87 and a one year high of $22.31. The firm’s 50-day moving average is $20.35 and its 200-day moving average is $19.05.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that HP will post $1.65 EPS for the current year.
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In other news, insider Dion J. Weisler sold 731,502 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the transaction, the insider now directly owns 435,018 shares in the company, valued at approximately $8,687,309.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marie Myers sold 11,752 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $19.25, for a total transaction of $226,226.00. Following the transaction, the insider now owns 11,752 shares in the company, valued at $226,226. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,206,355 shares of company stock worth $24,141,327. Insiders own 0.62% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. acquired a new position in HP in the 3rd quarter valued at about $3,069,000. Calamos Advisors LLC grew its stake in HP by 3.8% in the 3rd quarter. Calamos Advisors LLC now owns 258,417 shares of the computer maker’s stock valued at $5,158,000 after buying an additional 9,469 shares during the last quarter. Meyer Handelman Co. grew its stake in HP by 3.1% in the 3rd quarter. Meyer Handelman Co. now owns 449,414 shares of the computer maker’s stock valued at $8,971,000 after buying an additional 13,600 shares during the last quarter. Aperio Group LLC grew its stake in HP by 0.9% in the 3rd quarter. Aperio Group LLC now owns 1,371,641 shares of the computer maker’s stock valued at $27,378,000 after buying an additional 12,042 shares during the last quarter. Finally, Saratoga Research & Investment Management acquired a new position in HP in the 3rd quarter valued at about $262,000. Institutional investors and hedge funds own 78.98% of the company’s stock.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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